On July 9, China Hongqiao fell 3.43% in regular trading, trading at HK$20.22/share, with turnover of HK$94.29 million. The aluminum sector extended its broad weakness, with peers CHALCO down 2.62%, Chuangxin Industrial down 3.44%, and Nanshan Aluminum International down 1.03%.

On the news front, UBS recently cut its target price for China Hongqiao from HK$46.1 to HK$36.8, while lowering earnings forecasts for this year and next year by 13% and 24% respectively. The downgrade was primarily driven by reduced aluminum price assumptions to RMB 23,000/ton and RMB 22,500/ton for the two years. Domestic aluminum prices had previously plunged from RMB 24,000-25,000/ton levels in May to around RMB 22,000/ton, as persistent market concerns over China's electrolytic aluminum overproduction and accelerating capacity releases in Indonesia continued to suppress sector sentiment and valuations.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)